Intercont (Cayman) Limited Announces Effective Time of Share Consolidation/Reverse Share Splitto Regain NASDAQ Compliance
Intercont (Cayman) Limited will effect a 25-for-1 reverse share split of its Class A ordinary shares effective September 17, 2026, in order to regain compliance with Nasdaq's minimum $1.00 bid price requirement under Marketplace Rule 5550(a)(2). Issued Class A shares fall from 25,437,740 to 1,017,510, authorized Class A shares drop from 80 billion to 3.2 billion, and par value rises from $0.0025 to $0.0625 per share; authorized Class B shares are unchanged. Shareholders take no action — Transhare Corporation serves as exchange agent, brokerage positions adjust automatically, and fractional shares are rounded up at the beneficial holder level.
Key figures
- New cusip
- G48049129
- Effective date
- 2026-09-17
- Pre split par value
- $0.0025
- Reverse split ratio
- 25-for-1
- Post split par value
- $0.0625
- Nasdaq min bid price rule
- Marketplace Rule 5550(a)(2)
- Pre split issued class a shares
- 25437740
- Post split issued class a shares
- 1017510
- Pre split authorized class a shares
- 80000000000
- Post split authorized class a shares
- 3200000000
AI analysis
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